Hostess Brands Inc. could reveal as early as this week that Flowers and Bimbo are in discussions to acquire the bread brands, the newspaper report said.
The report said the brands could command $350 million.
Hostess, based in Irving, Texas, announced in November that it was shutting down its business and selling its brands, along with its 33 bakeries and other operations.
Grupo Bimbo SAB’s brands include Arnold breads, Thomas’ English muffins, and Entenmann’s cakes. Flowers Foods Inc.’s brands include Nature’s Own breads and Tastykake snacks.